In Bobbi Rebell of Reuter TV’s Euros fueling NY condo market the weak dollar is discussed as a key driver of foreign demand. Arguably its a very dated topic since foreign demand has been a factor in the New York market for more than a year and also correlates with GDP levels of the various European economies. However, its still a factor in the current condo market, and specifically with new development.
Tags: Europe, Television
An excellent point raised in this piece is that some investors are paying cash. That couldn’t be more timely because since April 2007, the number of lenders offering Foreign National loans has declined.
For my non-U.S. clients, we’ve had to accept higher interest rates from banks because there are fewer places at which to shop. And the banks know it.
I can’t think of a more underserved niche right now for lenders.
Very good point brought up about the condo market.
Keep up the good work!